Dairy Insights: Heard Mentality
Episodes
Episode 52 - Animal Diseases Keep Hitting Dairy
18 Dec 2025
Contributed by Lukas
Lumpy Skin Disease continues to spread in Europe, Bluetongue was recently found in Northern Ireland for the first time and bird flu was found in dairy...
Episode 51 - When will the market turn?
24 Nov 2025
Contributed by Lukas
We've seen sharp drops in dairy prices, is there any reason to be bullish right now? When will the market start to turn higher?
Episode 50 - Bearish Gulf Food
12 Nov 2025
Contributed by Lukas
Market talk at Gulf Foods, one of the largest global food trade fairs, was mostly bearish, centered on when is the dairy market going to bottom out.
Episode 49 - What is happening in the cattle market?
04 Nov 2025
Contributed by Lukas
U.S. dairy farmers have been earning more and more of their income from the sale of calves and slaughter cows over the past 3 years. Gavin McPherson j...
Episode 48 - Plenty of milk in NZ but tight in AU
22 Oct 2025
Contributed by Lukas
Dustin Winston was in Australia and Singapore and attended the SGX-NZX conference and talks about what he heard about milk production for New Zealand ...
Episode 47 - New OTC Swaps for EU WPC and FFMP
14 Oct 2025
Contributed by Lukas
StoneX has announced a new partnership to add dairy prices reported by Expana to StoneX Plus and launch OTC swaps that will settle to some of those pr...
EU Dairy Demand Weakening
18 Sep 2025
Contributed by Lukas
We held our annual EU outlook conference in Dublin Ireland last week and the sentiment was very bearish for the European dairy market. The supply side...
Episode 45 - U.S. Butter Price Collapses, Cheese Next?
08 Sep 2025
Contributed by Lukas
Summary: The CME spot butter price fell 17% during August hitting the lowest levels of 2025. I talk with Dave Kurzawski about the declines in butter a...
Episode 44 - EU Butter and Cheese Prices Down
15 Aug 2025
Contributed by Lukas
Summary: We've seen OTC cheese and butter prices for the fourth quarter drop about 10% from their recent highs as milk production in Europe, and elsew...
Episode 43 - GDT Prices and the Fat Market
12 Aug 2025
Contributed by Lukas
GDT results last week were mixed with AMF prices up but butter prices down and WMP prices counter seasonally increasing. Nate Donnay talks with Niall ...
Episode 42 - Lumpy Skin Disease in the EU
10 Jul 2025
Contributed by Lukas
We can now add Lumpy Skin Disease (LSD) to the list of diseases impacting dairy cows in Europe along with Bluetongue and Foot and Mouth (FMD). John La...
Episode 41 - Are dairy futures driving the spot market
02 Jun 2025
Contributed by Lukas
CME spot cheese and butter prices have rallied almost 40 cents a pound and 30 cents a pound from their recent lows to their peaks last week. Dave Kurz...
Episode 40 - US and EU Cheese Markets
21 May 2025
Contributed by Lukas
We've seen a significant rally in U.S. spot cheese and future prices and some significant strength in deferred EU OTC prices. Desmond Strelzow joins m...
Episode 39 - EU Butter and Cheese Markets Still Have Buy Side Support
06 May 2025
Contributed by Lukas
EEX butter futures have been trending a little lower, but every time they dip, buyers seem to show up. We've seen a similar pattern for cheese but EEX...
Episode 38 - GDT_SGX Rally and Growth in Chinese Milk Production
22 Apr 2025
Contributed by Lukas
YiFan Li comes on to talk about the strength we've seen in GDT/SGX prices and NBS data suggesting milk production in China was up 1.7% during the firs...
Episode 37 - Whats Up and Down in the US Dairy Market
14 Apr 2025
Contributed by Lukas
This week I talk to Dave Kurzawski about the U.S. spot and futures markets and the impact that tariffs or threats of tariffs have had.
Episode 36 - Foot and Mouth Spreading in Europe?
03 Apr 2025
Contributed by Lukas
During March there were 2 new cases of FMD in Hungary and 5 new ones in Slovakia. Florian Hildebrand joins me to discuss the spread of FDM and what we...
Episode 35 - NZ Developments and FMD in Hungary
13 Mar 2025
Contributed by Lukas
A second case of foot and mouth disease has been discovered in Europe and John Lancaster discusses what he saw and heard around weather and milk produ...
Episode 34 - Gulfood and Global Dairy Demand
26 Feb 2025
Contributed by Lukas
We got a pulse check on global dairy demand with Gulfood and the ONIL tender last week. It's not time for the defibrillator yet, but things aren't gre...
Episode 33 - Mexico and the NFDM_SMP Market
21 Feb 2025
Contributed by Lukas
NFDM and SMP prices across the major dairy exporters were all lower this week. Alfredo Resendiz Rojo has been in contact with buyers and traders of NF...
Episode 32 - EU Dairy Markets Softening
06 Feb 2025
Contributed by Lukas
We've seen choppy but downward trending price action in EEX butter and SMP futures. Fearghal McCabe comes on to talk about what he is seeing in the EU...
Episode 31 - IDFA Sentiment and Corn Rally
30 Jan 2025
Contributed by Lukas
The annual IDFA Dairy Forum took place this week with record attendance and plenty of talk about the dairy markets. Kyle Schrad shares his take aways ...
Episode 30 - GDT Rally, China and SEA Demand 1
27 Jan 2025
Contributed by Lukas
GDT prices were up this week, Chinese imports for December were stronger than expected and government statistics suggest Chinese milk production was d...
Episode 29 - Foot and Mouth Disease in Germany
17 Jan 2025
Contributed by Lukas
Foot and Mouth Disease has been detected in Germany which has both supply and demand implications for the dairy markets globally. John Lancaster and A...
Episode 28 - 2025 Dairy Markets are Starting Strong
10 Jan 2025
Contributed by Lukas
Episode 27 - Record Drop in California Milk Production
24 Dec 2024
Contributed by Lukas
Milk production in California during November was down 9.2% from last year which was a record decline. Dave Kurzawski talks about impacts for the mark...
Episode 26 - EU Markets Weaker Ahead of Year End 1
12 Dec 2024
Contributed by Lukas
Milk production in Europe is growing again, both year-over-year and seasonally while buyers are stepping away from the market for the year-end holiday...
Episode 25 - Surprising GDT and ONIL_Vinamilk Tenders
05 Dec 2024
Contributed by Lukas
Will GDT WMP break the $4,000 mark? YiFan Li discusses the surprising GDT Event results and we talk about the ONIL and Vinamilk tenders that just wrap...
Episode 24 - Mexico NFDM Demand
22 Nov 2024
Contributed by Lukas
Alfredo Resendiz-Rojo leads our efforts to develop dairy risk management in Latin America. This week he comes on the podcast to talk about Brazil and ...
Episode 23 - Gulf Food and India's Dairy Exports
15 Nov 2024
Contributed by Lukas
Episode 22 - The incredibly orderly collapse in Class III
07 Nov 2024
Contributed by Lukas
Episode 21 - Nate and Dave Were Wrong
01 Nov 2024
Contributed by Lukas
Episode 20 - SIAL in Paris and French Weather
24 Oct 2024
Contributed by Lukas
SIAL is one of the biggest food trade shows in Europe and just wrapped up. In this episode, I talk with Aureilien Houitte from our team who attended S...
Episode 19 - More on SGX Dairy Conference and Australia
16 Oct 2024
Contributed by Lukas
Dustin Winston, Commodity Market Analyst on the dairy team, spent a few weeks traveling around Australia and attending the SGX dairy conference in Sin...
Episode 18 - SGX Conference Recap
10 Oct 2024
Contributed by Lukas
Market sentiment at the SGX dairy conference was mixed. Our newest team member, Jeanette Tan, from our Singapore office shares what she heard from the...
Episode 17 - Butter Prices Come off the Boil
03 Oct 2024
Contributed by Lukas
EU and U.S. butter prices have collapsed, although EU prices have rallied back a bit. I talk with Desmond Strelzow from the Dublin office about what i...
Episode 16 - CME Barrel Cheese At Record High
03 Oct 2024
Contributed by Lukas
CME spot barrels made a new record high at $2.6225/lb. ($5,780/MT) and U.S. milk production remains weak with bird flu now spreading through the dair...
Episode 15 - StoneX EU Outlook Conference Recap
03 Oct 2024
Contributed by Lukas
We had record attendance at our European Dairy Market Outlook & Risk Management Forum in Dublin Ireland last week. I talk with John Lancaster abou...
Episode 13 - Equity Market Meltdown
03 Oct 2024
Contributed by Lukas
The global financial markets were looking scary Monday, but what are the implications for the real economy and dairy demand?
Episode 14 - Bluetongue in Europe
28 Aug 2024
Contributed by Lukas
Bluetongue disease is hitting dairy farms in the Netherlands, Germany, France and Belgium and reducing milk production. Florian Hildebrand shares what...
Episode 12 - EEX Liquid Milk Futures Contract Changes
29 Jul 2024
Contributed by Lukas
The EEX is changing the contract specification for their liquid milk futures contract which could lead to more liquidity across the European dairy con...
Episode 11 - Weak U.S. Milk Production and Stronger Prices
26 Jul 2024
Contributed by Lukas
U.S. milk production was weaker than expected in June, will the supply side story be enough to push dairy prices to new highs this year?
Episode 10 - GDT Results and Chinese Dairy Market
19 Jul 2024
Contributed by Lukas
Prices at the GlobalDairyTrade auction (GDT) were better than expected this week and milk production growth in China has slowed down, what is there to...
Episode 9 - Feed Costs and U.S. Dairy Farm Margins
11 Jul 2024
Contributed by Lukas
Feed costs like corn and soybeans are hitting multi-year lows which is boosting profitability for U.S. dairy farmers, will we get stronger milk produc...
Episode 8 - EU Market Update
03 Jul 2024
Contributed by Lukas
Dairy prices at the GDT Event were down a surprising 6.9% this week which is helping to feed the bearish sentiment in the EU dairy market.
Episode 7 - Bullish USDA Dairy Reports
27 Jun 2024
Contributed by Lukas
U.S. milk production for May was weaker than forecast and U.S. cheese and butter stocks for May were also weaker than expected. Nate Donnay and Dave K...
Episode 6 - New Zealand Fieldays and StoneX Trading App for NZ Farmers
20 Jun 2024
Contributed by Lukas
Fieldays is the biggest agricultural get-together in New Zealand. Nate Donnay talks with Matt Manning who attended this year to launch a new financial...
Episode 5 - Possible Chinese Tariffs on EU Dairy Products
14 Jun 2024
Contributed by Lukas
The EU Commission has announced anti-dumping tariffs on Chinese electric vehicles and China is threatening retaliatory tariffs on European agricultura...
Episode 4 - U.S. Dairy Prices Test Recent Highs
07 Jun 2024
Contributed by Lukas
I talk to Dave Kurzawski, Team Lead in Chicago, about the rally and fizzle we've seen in U.S. cheese and butter prices this week.
Episode 3 - What's Happening in China
30 May 2024
Contributed by Lukas
Lu Shi attended the China Dairy Industry Annual Conference in Changsha this week and she shares what she learned there.
Episode 2 - Eucolait
24 May 2024
Contributed by Lukas
The European butter market has rallied sharply in the past two weeks. Nate Donnay and John Lancaster, Head of EMEA Dairy and Food Consulting, talk abo...
Episode 1 - CME Cheese and EU SMP
17 May 2024
Contributed by Lukas
Episode 1: CME spot cheese prices have rallied 50 cents and nearby Class III milk futures are up $4 to $5 per hundredweight while SMP and butter price...
Trailer for StoneX Dairy Insights: Heard Mentality
10 May 2024
Contributed by Lukas